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Required information Exercise 8-14 (Algo) Inventory cost flow methods; perpetual system [LO8-1, 8-4] [The following information applies to the questions displayed below] Atira Corporation provides the following information related to its merchandiso inventory during the month of August 2021 Aug.1 Inventory on hand-3,800 units: cost 57.90 each. 8 Purchased 19,600 units for $7.30 each. 14 Sold 15,200 units for $13.80 each. 18 Purchased 11,400 units for $6.80 each. 25 Sold 14,200 units for $12,80 each. 28 Purchased 5,500 units for $5,80 each. 31 Inventory on hand-10,6e0 units. Exercise 8-14 (Algo) Part 1 Required: 1. Using calculations based on a perpetual inventory system, determine the inventory balance Altira would report in its August 31,2021 , bolance sheet and the cost of goods sold it would report in its August 2021 income statement using the Fifo method. Required information Exercise 8-14 (Algo) Inventory cost flow methods; perpetual system [LO8-1, 8-4] [The following information applies to the questions displayed below.] Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021: Exercise 8-14 (Algo) Part 2 2. Using calculations based on a perpetual inventory system, determine the inventory balance Altira would report in its August 31 , 2021, balance sheet and the cost of goods sold it would report in its August 2021 income statement using the Average cost method Round "Average Cost per Unit" to 2 decimal places.)